786
NEW YORK CITY — New Jersey-based investment firm Cedarbridge Management has purchased a 54-unit multifamily building located at 4300 Broadway in Manhattan’s Washington Heights neighborhood for $12 million. The six-story building was originally constructed in 1955 and houses five commercial spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented Cedarbridge and the undisclosed seller in the transaction. The deal traded at a cap rate of 7 percent.